Quarterly earnings releases are just starting and of the approximately 40 companies in which I own stock, I will carefully parse thru earnings call and SEC documents.
JNJ was the first, and i found this paragraph quite startling …
quote: “Regarding taxes, in the quarter, our effective tax rate was 4.9% compared to the fourth quarter of 2018 tax rate of 2.6%. The current quarter includes an estimated tax expense for the transition provisions of Swiss tax reform partially offset by reorganization of certain foreign subsidiaries and additional impacts of recently issued regulations associated with U.S. tax reform. We encourage you to reference our 10-K for further details on this and other specific tax matters. Excluding special items, the effective tax rate was 10.7%, relatively consistent with the same period last year, which was 11.1%.”
I have yet to form a strong opinion one way or the other, but the level of effective taxation is WAY below what i am paying … should we be ok w/ that?